NEWS
Envoy Lauds NADDC for reviving Automotive Industry
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The Nigerian Ambassador to Japan, Mr Husaini Moriki, has commended the Director-General of the National Automotive Design and Development Council (NADDC), Mr Jelani Aliyu, for reviving the Nigerian Automotive Industry.
Moriki made the commendation during Nigeria’s delegation meeting with key Japanese automotive manufacturers in Japan.
According to him, Aliyu had successfully brought many reform initiatives to the industry that have yielded results in terms of investment capacity building of Nigeria’s auto industry players.
The ambassador, therefore, urged the Japanese companies to identify areas of focus that the companies would like the Nigerian government to intervene in.
Moriki added that the intervention will be aimed at providing a better business environment
He said that this cannot come at a better time than now when the National Automotive Industry Development Plan (NAIDP) and the Auto Policy were being reviewed by the council.
He urged the Japanese companies to collaborate with the council in training of Nigerian youths at the 18 Automotive Training Centers built by the council across the country.
Speaking earlier, the NADDC boss called on Toyota, Honda, Nissan, Mitsubishi, Isuzu, Suzuki and Yamaha to set up mega production and assembly plants in Nigeria.
According to him, Honda West Africa, Nissan/Stallion, Toyota/Elizade, Mitsubishi/CFAO, Suzuki/Boulos, Isuzu/Kewalrams and Yamaha/CFAO were already building vehicles in the country.
Aliyu said, “these larger investments would come at a time when the need for diversification in Nigeria is paramount to the country’s economy as the population continues to grow.”
The DG added that the Africa Continental Free Trade Area, AfCFTA, was also opening up Africa-wide opportunities for Nigerian automotive manufacturers.
“The discussions with the companies were very fruitful, with strong potential for the various manufacturers to significantly increase their operations and market footprint in Nigeria.
“This will contribute at an even higher level to the growth and
sustainability of the Nigerian Automotive space,” Aliyu dis.
He added that the council had engaged an international firm, KPMG, to support with the review of the Auto Policy.
This, he said, is in order to beef it up to the current pattern of global and regional automotive production and distribution.
He said: “KPMG is getting good support from the AAAM – African Association of Automotive Manufacturers.
” As soon as the draft policy is done by KPMG, it shall go as an executive bill to the National Assembly.
“The Senate and House Committees on Industry are giving their full support towards having this reviewed policy be backed by a legal framework.”
While highlighting some of the key areas of the reviewed policy, Aliyu said ”when the draft becomes law, it would further boost the financial advantages of local production/assembly.
“It will also provide clear import duty differential between locally
assembled vehicles and those imported fully built and also provide tax waivers.
“Other key areas would include facilitating the establishment of dedicated customs corridors/services, provision of single digit capital financing for both manufacturers and buyers.
“It will also entail mandatory government patronage, all in favour of local production/assembly,”Aliyu added.
On his part, the Chairman, House of Represenatatives Committee on Industry, Mr Enitan Badru, promised to provide necessary legislative support to the new auto policy.
He said,”so that it gives the investors the confidence and stability to invest in Nigeria.”
Badru underscored the importance of the vehicle financing scheme, saying it would bolster the purchase of locally produced vehicles. ( NAN )
NEWS
Ajuri, Tinubu’s Spokesperson Takes Exit, Cites Mesical Reaaona
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Special Adviser on Media and Publicity to the President Chief Ajuri Ngelale has quit his job. He said in a statement in a Abuja that he would proceed on an ” indefinite leave, to deal with ” medical matters” affecting him amd hia immediate family.Hos statement reads: “On Friday, I submittd a memo to the Chief of Staff to the President informing my office that I am proceeding on an indefinite leave of absence to frontally deal with medical matters presently affecting my immediate, nuclear family.
While I fully appreciate that the ship of state waits for no man, this agonizing decision — entailing a pause of my functions as the Special Adviser to the President on Media & Publicity and Official Spokesperson of the President; Special Presidential Envoy on Climate Action, and Chairman, Presidential Steering Committee on Project Evergreen — was taken after significant consultations with my family over the past several days as a vexatious medical situation has worsened at home.I look forward to returning to full-time national service when time, healing, and fate permit.I respectfully ask for some privacy for my family and family”NEWS
Fuel Crisis: 1000 CSOs Fault Tinubu’s Economic Team, Want Immediate Reconstitution
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By David Torough, Abuja
About 1000 Civil Society Organizations (CSOs), under the auspices of Coalition Of Civil Society Organisations (CCSOs), on Saturday Faults President Bola Tinubu’s Economic Team and called for immediate reconstitution.Expressing deep concerns over the state of the economy and escalating fuel prices compounding the hardship of Nigerians despite the recent protest, the groups said Tinubu must act now to avert disintegration.
The groups said the current situation across the country has cast doubt on the competence of the Tinubu economic team and called for urgent review. The CCSOs in a statement by its National Coordinator, Mallam Ibrahim Mohammed, pointed out that the plight of Nigerians is sinking low and their patience is wearing off following the deteriorating economy.The statement reads in part, “The Coalition of Civil Society Organisations (CSOs) is deeply concerned about the deteriorating state of the Nigerian economy, which is becoming increasingly unbearable for millions of citizens.“It is evident that the recent hike in fuel prices and the unstable exchange rate are the direct results of economic mismanagement by those responsible for overseeing our nation’s financial policies. The ripple effects of these failures are being felt in every household across the country, worsening poverty and crippling economic activity.“The floating of the Naira, which was initially sold to Nigerians as a means of stabilizing our currency, has done little to prevent the continued devaluation of the Naira. In fact, the exchange rate disparity has widened significantly, with the Naira losing value daily, impacting the cost of living, basic commodities, and inflation.“While this policy was expected to ease foreign exchange pressure, it has instead deepened economic challenges due to poor implementation and lack of strategic foresight.”The coalition also expressed concern over what it described as a death trap of indebtedness of the Nigerian National Petroleum Company Limited (NNPCL), which also they claimed had slowed down importation of Premium Motor Spirit, PMS, hence the current shortage of PMS across the country. “Of equal concern is the precarious position of the Nigerian National Petroleum Company Limited (NNPCL), which finds itself in a debt trap, with global suppliers of petroleum products losing confidence in Nigeria’s ability to honour its obligations.“Reports have shown that NNPCL has accrued debts totalling over $6 billion, causing petrol supply shortages. International suppliers are now reluctant to continue providing fuel on credit, exacerbating supply chain issues and pushing up the price of petrol at the pump”, they claimed.The CSOs also asserted that, “We hold the managers of the Nigerian economy responsible for these disturbing developments. Their inability to provide sound policies and long-term solutions has left the nation in this predicament.“It is clear that there is no cohesive strategy to address the rising debt, the growing imbalance in the foreign exchange market, or the country’s heavy reliance on importation for petrol supply. The recent hike in fuel prices reflects the collapse of responsible economic management and accountability.“Nigerians are left to bear the brunt of these failures. Businesses are shutting down, transportation costs have skyrocketed, and citizens are spending an increasingly larger percentage of their income on basic necessities. This state of affairs is unacceptable.”The group therefore placed some demands; Immediate intervention from the government: There needs to be a comprehensive and transparent plan to stabilize the Naira, restore confidence in the petroleum supply chain, and negotiate a restructuring of NNPC’s debts to ensure continuous fuel supply.“Accountability for economic mismanagement: Those responsible for the reckless management of our foreign exchange policies and NNPC’s debts must be held accountable. The government must also disclose its plan to mitigate the rising fuel costs and economic burden on Nigerians.“A return to sound financial policy: The floating of the Naira has proven ineffective under current conditions. We call for a re-evaluation of monetary and fiscal policies to stabilize the economy, reduce inflation, and attract foreign investment.“In conclusion, the Coalition of Civil Society Organisations reiterates that without immediate corrective measures, the economic situation will continue to deteriorate, leading to further hardship for the average Nigerian. The government must act decisively and responsibly to reverse this downward spiral”, they added.NEWS
Tension in Makurdi Community as NAF Personnel Demolishes Houses, Destroys Rice Farm
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There is growing tension in Ugondu community, Makurdi LGA, Benue state by young people opposed to the demolition of houses and destruction of rice farms in the area allegedly on the directives of senior Air Force officer, Air Commodore Akinbuwa Ayodele.
It was learnt that Commodore Ayodele, who is facing multiple legal actions following dispute over a plot of land located on George Akume Way Makurdi and owned in blatant disregard to the judicial process embarked on destruction of structures on the plot.
Eyewitness said when the equipment arrived no one imagined it was for destruction.
But in a militray- like operation, two flats of two units each, completely roofed, electrified and plumbing work completed were among the structures demolished as the bulldozers rolled over rice farms in the vicinity as well.
It was learnt that last year, a Makurdi High Court presided by Justice Mary Ijohor, granted an order of perpetual injunction, in the same matter, upon application by the supposed owner of the plot and awarded the sum of One Million Naira (N1,000,000.00) only, as cost. The matter, enforcement of fundamental rights, was marked as MHC/582/M/2023.
Godwin Akor whose rice farm was destroyed in a chat with newsmen said that he was shocked at the development. He however said he won’t speak more on the matter as it is still before the court.